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TLN

Talen Energy Corporation

TLN

Talen Energy Corporation • NASDAQ
$394.27 ▲ 0.47% (+1.85)
Market Cap $18.01 B
52w High $451.28
52w Low $158.08
Dividend Yield 0%
P/E 82.66
Volume 279.72K
Outstanding Shares 45.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $770M ▲ $90M ▲ $207M ▲ 26.883% ▲ $4.53 ▲ $459M ▲
Q2-2025 $454M ▼ $28M ▼ $72M ▲ 15.859% ▲ $1.58 ▲ $246M ▲
Q1-2025 $631M ▲ $297M ▲ $-135M ▼ -21.395% ▼ $-2.94 ▼ $-15M ▼
Q4-2024 $488M ▼ $136M ▲ $82M ▼ 16.803% ▼ $1.78 ▼ $128M ▼
Q3-2024 $555M $18M $168M 30.27% $3.3 $350M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $497M ▲ $6.097B ▲ $4.628B ▲ $1.469B ▲
Q2-2025 $122M ▼ $5.827B ▼ $4.581B ▼ $1.246B ▲
Q1-2025 $295M ▼ $5.865B ▼ $4.685B ▼ $1.18B ▼
Q4-2024 $328M ▼ $6.106B ▼ $4.719B ▲ $1.387B ▼
Q3-2024 $648M $6.848B $4.403B $2.387B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $207M ▲ $469M ▲ $-42M ▲ $-65M ▼ $362M ▲ $404M ▲
Q2-2025 $72M ▲ $-184M ▼ $-46M ▲ $45M ▲ $-185M ▼ $-120M ▼
Q1-2025 $-135M ▼ $119M ▲ $-68M ▼ $-96M ▲ $-45M ▲ $55M ▲
Q4-2024 $82M ▼ $10M ▼ $-54M ▼ $-723M ▼ $-767M ▼ $-32M ▼
Q3-2024 $168M $96M $246M $-325M $17M $38M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Commodity Contracts Unrealized Gain Loss
Commodity Contracts Unrealized Gain Loss
 $190.00M ▲$-270.00M ▼$10.00M ▲$20.00M ▲
Electricity Sales And Ancillary Services
Electricity Sales And Ancillary Services
 $350.00M ▲$580.00M ▲$310.00M ▼$500.00M ▲
Operating Revenue Capacity
Operating Revenue Capacity
 $50.00M ▲$50.00M ▲$90.00M ▲$170.00M ▲
Physical Electricity Sales Bilateral Contracts Other
Physical Electricity Sales Bilateral Contracts Other
 $40.00M ▲$20.00M ▼$10.00M ▼$40.00M ▲
Product and Service Other
Product and Service Other
 $20.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Talen’s income statement shows a company that has moved from heavy losses to solid profitability in only a few years. Revenue has been uneven but is now growing again, and margins have improved sharply as operations have been cleaned up and re-focused. The shift from repeated net losses to meaningful net profit suggests restructuring and strategy changes are working at the earnings level. However, the history of swings in performance, plus the unusually large change in per‑share results, signals that this is still a story in transition rather than a fully “steady” earnings profile.

Balance Sheet

Balance Sheet The balance sheet looks much healthier than a few years ago, but it is not yet low‑risk. Total assets have shrunk, likely reflecting asset sales or write‑downs as the company refocused. Debt has been brought down from prior peaks but remains substantial relative to the company’s size. Equity has moved from negative to positive, a key sign of repair after past distress, although it did slip slightly in the most recent year, which could relate to shareholder returns, accounting adjustments, or one‑off items. Overall, leverage is still meaningful, so balance‑sheet strength depends on Talen keeping cash generation on track.

Cash Flow

Cash Flow Cash flow has improved from patchy and sometimes negative to consistently positive in recent years. Operating cash flow now comfortably covers investment spending, and free cash flow has turned positive and stayed that way, though it is not yet abundant. Capital spending looks disciplined rather than aggressive, which supports free cash flow but may limit the speed of growth if large projects ramp up. The key watchpoint is that cash generation does not yet fully match the apparent strength of reported earnings, suggesting working‑capital movements or non‑cash items are still important drivers under the surface.

Competitive Edge

Competitive Edge Talen is carving out a differentiated role in the power market by aligning itself tightly with hyperscale data centers and AI infrastructure rather than acting as a generic wholesale power producer. Its large, carbon‑free nuclear asset in a key U.S. power market, coupled with long‑duration contracts like the AWS agreement, creates a more stable and premium demand base than typical merchant generators enjoy. The behind‑the‑meter model for data centers offers reliability and cost advantages that are hard for conventional utilities to replicate quickly. That said, Talen’s concentration in a few large customers and markets, and its dependence on favorable regulation and grid rules, leaves it exposed to policy, contract, and counterparty risks.

Innovation and R&D

Innovation and R&D Innovation at Talen is less about lab research and more about how it combines energy assets, contracts, and new technologies to serve the data center and AI ecosystem. The company is pushing ahead with co‑located data center campuses, nuclear uprates, potential small modular reactors, and battery storage pilots. Its “flywheel” strategy—contracting existing assets, acquiring or developing new ones, and then re‑contracting—aims to create a repeatable growth engine tied to rising digital power demand. The major opportunities lie in successfully executing complex nuclear and storage projects and in expanding beyond one anchor customer, while the main risks are technological, regulatory, and execution missteps in these ambitious initiatives.

Summary

Talen Energy has transitioned from a financially stressed independent power producer to a more focused energy and digital‑infrastructure platform aimed squarely at the AI and data‑center boom. Profitability and cash flow have improved meaningfully, and the balance sheet has been repaired, though it still carries notable debt and a history of volatility. Strategically, Talen’s combination of nuclear power, advantaged locations, behind‑the‑meter solutions, and a long‑term hyperscaler contract gives it a potentially durable niche. The upside case rests on sustained data‑center demand, successful project delivery, and continued decarbonization progress; the risk side centers on customer concentration, regulatory and nuclear project uncertainty, and the need to keep cash generation strong enough to support its capital structure and growth ambitions.

NEWS

November 25, 2025 · 4:05 PM UTC

Talen Energy Completes Freedom and Guernsey Acquisitions

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October 27, 2025 · 4:05 PM UTC

Talen Energy Announces Closing of $2.69 Billion Senior Notes Offerings

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October 10, 2025 · 4:05 PM UTC

Talen Energy Announces Pricing of Senior Notes Offerings

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October 9, 2025 · 7:36 AM UTC

Talen Energy Announces Launch of Proposed Senior Notes Offerings

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October 6, 2025 · 7:41 AM UTC

Talen Energy Announces Launch of $1.2 Billion Term Loan B Financing, $200 Million Upsize of Revolving Credit Facility and $200 Million Upsize of Stand-Alone Letter of Credit Facility

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